CENT Vehicle
Purpose
To purchase 2 wheeler or 4 wheelers solely for
the purpose of personal use
Eligibility
All individuals of age 18 years and above who are
Finance is extended individually or jointly with
pouse.
Minimum Income Criteria: Salaried For 4
wheelers - Rs.15000/- p.m.
2 wheelers - Rs.5000/- p.m.
Other than salaried person For 4 wheelers - Rs.
180000/- p.a.
2 wheelers - Rs. 60000/- p.a.
Margin:
15% -new vehicle/ 40% - old vehicles(not
more than 3 years old)
Loan Amount
Salaried persons - 24 months gross monthly
salary on the basis of last salary drawn
Other individuals - 2 times average annual
income as per IT return of last 3 years The max. loan amount is
Rs.10 lakhs
The max. loan amount is Rs.10 lakhs
Net take home pay
After accounting for all deductions including
present loan net take home pay should be min 40% of Gross
salary.
Security
Hypothecation of vehicle. Charges to be
registered with RTO authorities. One set of key should be kept
with bank.
Guarantee
Personal Guarantee of persons with sufficient
worth & acceptable to Bank to be furnished.
Rate of Interest
Processing Charges
Repayment
New Vehicle Old Vehicle
Old vehicle upto 2 yrs old More than 2 yrs old
4 wheelers Max 84 months Max 36 months Max 24
months
2 wheelers Max 48 months Max 36 months Max 24
months
Post-dated cheques should be submitted for the entire repayment
period.
Documents to be submitted
Application in prescribed format with
documentary proof of identification, Documentary Proof of Income,
Proforma Invoice from Dealer, Undertaking from the Employer
regarding repayment, Duly Signed Blank Transfer Form. Old
vehicle to be valued by approved valuer. PDCs to be submitted for
entire repayment period.
Disbursement
Payment to be made to dealer/sub dealer
directly by P.O./DD. 2nd hand vehicle should be disbursed to seller
by PO/DD after collecting margin.
Purpose
To purchase 2 wheeler or 4 wheelers solely for
the purpose of personal use
Eligibility
All individuals of age 18 years and above who are
Finance is extended individually or jointly with
pouse.
Minimum Income Criteria: Salaried For 4
wheelers - Rs.15000/- p.m.
2 wheelers - Rs.5000/- p.m.
Other than salaried person For 4 wheelers - Rs.
180000/- p.a.
2 wheelers - Rs. 60000/- p.a.
Margin:
15% -new vehicle/ 40% - old vehicles(not
more than 3 years old)
Loan Amount
Salaried persons - 24 months gross monthly
salary on the basis of last salary drawn
Other individuals - 2 times average annual
income as per IT return of last 3 years The max. loan amount is
Rs.10 lakhs
The max. loan amount is Rs.10 lakhs
Net take home pay
After accounting for all deductions including
present loan net take home pay should be min 40% of Gross
salary.
Security
Hypothecation of vehicle. Charges to be
registered with RTO authorities. One set of key should be kept
with bank.
Guarantee
Personal Guarantee of persons with sufficient
worth & acceptable to Bank to be furnished.
Rate of Interest
Processing Charges
Repayment
New Vehicle Old Vehicle
Old vehicle upto 2 yrs old More than 2 yrs old
4 wheelers Max 84 months Max 36 months Max 24
months
2 wheelers Max 48 months Max 36 months Max 24
months
Post-dated cheques should be submitted for the entire repayment
period.
Documents to be submitted
Application in prescribed format with
documentary proof of identification, Documentary Proof of Income,
Proforma Invoice from Dealer, Undertaking from the Employer
regarding repayment, Duly Signed Blank Transfer Form. Old
vehicle to be valued by approved valuer. PDCs to be submitted for
entire repayment period.
Disbursement
Payment to be made to dealer/sub dealer
directly by P.O./DD. 2nd hand vehicle should be disbursed to seller
by PO/DD after collecting margin.
I am glad to find your impressive way of writing the post.Thanks for sharing the post.i'm sharing your information to all friends.
ReplyDeleteAlso see my blog Cash Against Credit Card Swipe